Section 245. Interest payments

1.  A  savings  bank  may  classify  its
  depositors according to the  character,  amount  or  duration  of  their
  dealings with the savings bank.
    2.  In  the  discretion of a majority of all the trustees, the amounts
  contributed by incorporators or trustees to  the  surplus  fund  may  be
  credited  with  interest  at  the same rate that interest is credited to
  depositors.  Such  interest  may  be  paid  in  cash  or  added  to  the
  contributions  previously  made  and if so added shall be subject to all
  provisions of this article relating to contributions of incorporators or
  trustees to the surplus fund. If interest on such contributions  is  not
  paid  for  any  period  at  the time interest for such period is paid to
  depositors, the contributors shall not thereafter receive or be credited
  with any interest for such period.
    3. A savings bank shall not pay any interest  on  any  deposit  for  a
  longer  period  than the same has been on deposit, except as provided in
  subdivision three-a of this section.
    3-a. Deposits made not later  than  the  tenth  calendar  day  of  any
  calendar  month  may be credited with interest from the first day of the
  month in which such deposits were made, and deposits withdrawn upon  one
  of  the last three business days of any interest period or, in the event
  that one of such last  three  business  days  is  a  Saturday,  deposits
  withdrawn upon one of the last four business days of any interest period
  may  be credited with interest as if they had remained on deposit to the
  end of  the  interest  period.  If  the  by-laws  so  provide,  deposits
  withdrawn  before  the  close of an interest period may be credited with
  interest to the first day of the month in which such withdrawal is made.
  The provisions of this subdivision shall not apply to deposits on  which
  interest is credited pursuant to subdivision three-b of this section.
    3-b. Subject to such limitations and restrictions as may be prescribed
  by  regulation  of the banking board, a savings bank may credit interest
  on deposits from the date on which the deposit is made to the  date  the
  deposit is withdrawn.